Unemployed: Job Losers for Connecticut
JOBLOSCT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,500.00
Year-over-Year Change
-50.74%
Date Range
10/1/2003 - 7/1/2024
Summary
The 'Unemployed: Job Losers for Connecticut' trend measures the number of Connecticut residents who have lost their jobs, providing insight into the state's labor market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the number of unemployed individuals in Connecticut who have lost their previous jobs, rather than those entering the workforce for the first time or those re-entering after a period of absence. It is a key indicator of the health of Connecticut's economy and job market.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' monthly household survey.
Historical Context
Policymakers and economists use this data to assess the strength of Connecticut's labor market and inform economic policies.
Key Facts
- Connecticut's job loss rate is higher than the national average.
- Manufacturing and construction sectors have experienced the largest job losses in the state.
- The COVID-19 pandemic has significantly impacted job losses in Connecticut.
FAQs
Q: What does this economic trend measure?
A: The 'Unemployed: Job Losers for Connecticut' trend measures the number of Connecticut residents who have lost their jobs, providing insight into the state's labor market conditions.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health of Connecticut's economy and job market, which is relevant for policymakers, economists, and individuals interested in understanding the state's labor market dynamics.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' monthly household survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the strength of Connecticut's labor market and inform economic policies aimed at supporting job growth and mitigating job losses.
Q: Are there update delays or limitations?
A: The data is updated monthly, but there may be some delay in the release of the latest figures.
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Citation
U.S. Federal Reserve, Unemployed: Job Losers for Connecticut (JOBLOSCT), retrieved from FRED.